The United States Securities and Exchange Commission (SEC) has requested the judge in the civil case against Terraform Labs and its co-founder Do Kwon to determine whether certain crypto assets should be classified as securities. The SEC aims to bypass a jury trial and have the judge decide on the regulatory status of Terraform Labs’ tokens. The SEC argues that the tokens meet the legal definition of securities based on the Howey Test. Terraform Labs and Do Kwon are strengthening their defense against the SEC’s allegations. The SEC’s attempt to avoid a jury decision raises questions about whether the tokens should be considered securities. In a related development, materials from Jump Crypto Holdings have been admitted into discovery in the SEC’s lawsuit against Terraform Labs. This reflects the SEC’s broader efforts to categorize cryptocurrencies as securities in lawsuits against industry players. A federal judge ruling in a case against Ripple has potentially opened the door for the SEC to reconsider charges against Ripple’s CEO and Executive Chair.

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Information	Details
Geography	Global
Countries
Sentiment	neutral
Relevance Score	1
People	Chris Larsen, Brad Garlinghouse, Do Kwon
Companies	Jump Crypto Holdings, United States Securities and Exchange Commission (SEC), Coinbase, Binance, Terraform Labs, Ripple
Currencies	None
Securities	None